KLA Co. (NASDAQ:KLAC) Shares Sold by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. decreased its stake in KLA Co. (NASDAQ:KLAC) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 616 shares of the semiconductor company’s stock after selling 33 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in KLA were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KLAC. Wellington Management Group LLP raised its holdings in KLA by 6.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,159,498 shares of the semiconductor company’s stock worth $1,449,135,000 after purchasing an additional 190,355 shares during the period. Northern Trust Corp lifted its position in shares of KLA by 3.5% during the 3rd quarter. Northern Trust Corp now owns 1,598,677 shares of the semiconductor company’s stock valued at $733,249,000 after buying an additional 54,472 shares in the last quarter. Invesco Ltd. grew its stake in KLA by 12.7% in the 3rd quarter. Invesco Ltd. now owns 1,365,784 shares of the semiconductor company’s stock valued at $626,431,000 after acquiring an additional 153,752 shares during the period. Morgan Stanley increased its holdings in KLA by 10.2% in the 3rd quarter. Morgan Stanley now owns 1,267,811 shares of the semiconductor company’s stock worth $581,496,000 after acquiring an additional 117,584 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its holdings in KLA by 52.8% during the third quarter. Alkeon Capital Management LLC now owns 1,156,913 shares of the semiconductor company’s stock valued at $530,630,000 after purchasing an additional 400,000 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Activity

In other KLA news, EVP Oreste Donzella sold 3,257 shares of KLA stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $697.85, for a total value of $2,272,897.45. Following the completion of the sale, the executive vice president now owns 16,922 shares of the company’s stock, valued at approximately $11,809,017.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Bren D. Higgins sold 7,018 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total value of $4,947,970.72. Following the completion of the transaction, the chief financial officer now owns 32,375 shares of the company’s stock, valued at $22,825,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Oreste Donzella sold 3,257 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the transaction, the executive vice president now owns 16,922 shares in the company, valued at approximately $11,809,017.70. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

KLA Stock Performance

KLA stock traded up $14.54 during mid-day trading on Friday, reaching $696.59. 820,130 shares of the company’s stock were exchanged, compared to its average volume of 889,883. The business’s fifty day simple moving average is $688.02 and its 200 day simple moving average is $607.66. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.90. KLA Co. has a one year low of $369.66 and a one year high of $729.15. The firm has a market capitalization of $93.79 billion, a PE ratio of 36.49, a P/E/G ratio of 2.97 and a beta of 1.33.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, beating the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $5.49 EPS. On average, sell-side analysts expect that KLA Co. will post 23.24 earnings per share for the current year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a $1.45 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $5.80 dividend on an annualized basis and a yield of 0.83%. KLA’s dividend payout ratio (DPR) is 30.38%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Cowen boosted their price target on KLA from $650.00 to $700.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Susquehanna restated a “neutral” rating and issued a $675.00 price target on shares of KLA in a research report on Monday, April 1st. JPMorgan Chase & Co. increased their price target on KLA from $565.00 to $725.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Deutsche Bank Aktiengesellschaft started coverage on KLA in a research note on Thursday, April 11th. They set a “buy” rating and a $800.00 price objective on the stock. Finally, Bank of America lifted their price target on KLA from $740.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $722.26.

KLA Company Profile

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection.